Finance Minister Muhammad Aurangzeb has reiterated the government's commitment to working closely with Securities and Exchange Commission of Pakistan (SECP) on a reform agenda aimed at deepening the market, expanding investors, lowering transaction costs, speeding up approvals and ensuring transparent regulations. He was talking to the new leadership of the SECP in Islamabad on Friday.

The Finance Minister emphasized the need to reduce reliance on banks as the primary source of financing and to broaden participation by insurance companies, asset managers, pension funds, and retail investors, in line with sound asset-liability management practices. 

Muhammad Aurangzeb underscored the importance of expanding the pool of institutions able to support capital raising activity, enhancing competition and ensuring that market infrastructure has adequate capacity to process increased issuance without bottlenecks. 

The Finance Division shared ongoing work to strengthen domestic debt management through improved front, middle and back office functions and liability management operations, noting that the next phase requires close collaboration with SECP to expand market depth and efficiency.

Credit: Independent News Pakistan (INP)